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Zhejiang Shibao Co. Ltd. Class H ( (HK:1057) ) has issued an update.
Zhejiang Shibao Co. Ltd. has announced its subscription to the 12th CITIC Wealth Management Product from China CITIC Bank, utilizing part of its idle funds. This transaction, while not individually significant under Hong Kong Listing Rules, becomes discloseable when aggregated with previous subscriptions, as it exceeds the 5% threshold. The investment is principal-protected with a floating income and is expected to yield an annual return between 1.05% and 1.92%, reflecting the company’s strategy to manage idle funds without affecting its operational capital.
More about Zhejiang Shibao Co. Ltd. Class H
Zhejiang Shibao Co. Ltd. is a joint stock limited company incorporated in the People’s Republic of China, operating within the financial sector. The company focuses on managing investment products, specifically wealth management products, which are designed to provide principal protection and are characterized by low investment risk and high safety of principal.
Average Trading Volume: 18,068,570
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$9.35B
For a thorough assessment of 1057 stock, go to TipRanks’ Stock Analysis page.